Panama has been consistently voted as the best retirement and lifestyle destination in Latin America by various international agencies and publications. The factors that have contributed to this assessment include the following: Panama is by far the safest country in Latin America with a very low crime rate in Panama city and almost no violent crime; Panama has diverse living from mountains and cooler climate to tropical Caribbean beach paradises at very affordable prices, there are over 30 international schools, medical facilities are first-world-class and on par with the United Sates, the city is considered an international first class city with close access to the rest of the world. This is the reason why many businessmen are choosing to leave the United States, Europe, China, and Latin America and move their families to Panama. Indeed, Panama is extremely multicultural and extremely tolerant to foreigners. In any night you will see Jews, Arabs, Italians, Germans, Russians, Chinese and people of all races, cultures and religions mixing in the restaurants and nightclubs. There is no religious intolerance, racial discrimination, nor terrorism here. Sounds like paradise? Well, it is. 

Those who want to have residency in Panama have approximately 20 different options however the major types of residence that are the easiest and most common include:

The Panama Friendly Nations visa

This is a permanent residency which is granted within 3 months of the filing of the application, with the first residence document issued within 2 weeks and the final permit after 3 months. The visa is open to passport holders(citizens) of 42 countries including European Union, United States, Mexico, Brazil, Taiwan, South Africa, Chile, Australia, and New Zealand.

The applicant only needs to place 5,000 in a local bank account and open a company with the intention of doing business. There are no further requirements, no language requirement, no requirement for qualifications, and no investment requirements. Yes, it is that simple and many people from around the world are taking the opportunity while it is available. This program is so simple because Panama has a shortage of talented people and a general shortage of population, so foreigners are more than welcome.

Moreover, after five years the applicant is entitled to apply for citizenship which is granted after a very easy citizenship exam.

You do not have to live in Panama to maintain residency. This is one of the few countries in the world where you can maintain your residency by simply having an address here and visiting only once every two years.

Procedures and cost

To apply for this type of visas (friendly nations), these would be the requirements:

  • Five passport photos.
  • Reference letter from a local bank certifying to have at least $ 5,000 in an account.
  • Original and Copy of your passport and a second identification, this may be your country's ID or driver's license.
  • Corporation created on behalf of the applicant.
  • Criminal record.
  • Payment of USD 800.00 for repatriation, through Certified Check.
  • Payment of USD 250.00 for application fees, by certified check.
  • Health Certificate issued by a local doctor.
  • Affidavit, according to the migration requirements.

If the applicant applies with children and spouses, he must attach to the above requirements the certificates that prove the family bond, such as: Birth Certificates and Marriage Certificates, respectively.
All the above documents must be duly translated into Spanish and apostilled.

The process to apply to this type of visa is as follows:

  1. Open a bank account (1-2 days)
  2. Register passport in Migration and Obtain temporary ID (2 - 3 days)
  3. Obtain multiple entry visa (2-3 days)
  4. Permanent residence approval process (3-6- months)
  5. Obtain permanent residence card (1-2 days)
  6. Obtain permanent residence card (45-60 days)

Contact us to receive a detailed brochure and information pack from our experts.


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Pensionado or retirees visa 

Contrary to what its name suggests the retiree visa is open to all ages. All you have to prove is that you have a pension or fixed income from a government or private retirement fund of 1000 per person per month for life.

The retirement or pensionado visa has absolutely no investment requirements, no language requirements, and is rated as the best retirement visa program on earth today.

The retirement visa is a permanent residency which allows you to have up to 25% discount on all movie tickets, medical bills, restaurants, and many other services. No wonder it is considered the most requested residency program in the world today. If you can prove a steady income for life then wait no more, this program will not last much longer as the government is due to tighten it.

The requirements for this type of process are the following:

  • Five photos.
  • Passport.
  • Letter issued by the Institution or Entity that proves the monthly lifetime income (minimum of USD 1,000.00).
  • Criminal record.
  • Medical certificate issued by a local doctor.
  • Affidavit, according to the migration requirements.
  • Proof of Panama address, this may be utility bill, rental agreement and / or hotel letter.

All the above information must be duly translated into Spanish and apostilled.

If the applicant wishes to include a spouse or children, they must have an additional USD 250.00 for each one in their monthly lifetime income.

The process to apply to this type of visa is as follows:

  1. Register the passport at the Migration office and obtain a temporary ID (2 - 3 days)
  2. Obtain multiple entry visa (2-3 days)
  3. Residence approval process (3-6- months)
  4. Obtain residence card (1-2 days)
  5. Obtain residence card (45-60 days)

Contact us for a detailed info pack

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Investors Visa


If you have 300,000 you can either invest it in one of Panama´s top banks and be entitled to a fixed deposit of up to 5% per annum denominated in US currency or you can buy real state in any area of Panama for the same value or both in whatever proportion you wish. The investment allows you to have a permanent residency as well as enjoy the income that this type of investment allows.

Purchasing real estate gives you the advantage of fast tracked tax residency since you will have complied with one of the fundamental requirements of tax residency in Panama as well as purchasing at a time where real estate has bottomed and is experiencing the beginning of a renaissance with expected returns that could be as high as 40% over the next few years.

The requirements to apply to this type of visa are:

  • Five photos.
  • Notarized copy of passport.
  • Criminal record.
  • Health Certificate issued by a local doctor.
  • Payment of USD 800.00 for repatriation, through Certified Check.
  • Payment of USD 250.00 for application fees, by certified check.
  • Affidavit, according to the migration requirements.
  • Fixed Term Deposit Certificate proving that you have deposited USD 300,000.00 or more, for a term of 3 years or more and that additionally it is free of encumbrance; or,
  • Certification of the Public Registry of Property that proves ownership of a property in a personal capacity or in the name of a private interest foundation and that the property is free of encumbrance.

If the applicant applies with children and spouses, he must attach to the above requirements the certificates that demonstrate the family relation, such as: Birth Certificates and Marriage Certificates, respectively. Additionally, you must attach to the amount of your investment USD 2,000.00 per each of the dependents that you want to include in your application.

All the above documents must be duly translated into Spanish and apostilled.

The procedure for this type of visa is as follows:

  1. Register passport at the Migration office and Obtain temporary ID (2 - 3 days)
  2. Obtain multiple entry visa (2-3 days)
  3. Residence approval process (3-6- months)
  4. Obtain residence card (1-2 days)
  5. Obtain residence card (45-60 days)

Contact us for detailed info pack

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Business or Free zone Visa

If you wish to establish a business in Panama or buy a business either in Panama City or the free zone, all you need is to establish a company and put 160,000 in its founding capital. YOU WILL ALSO need to employ five workers which can be on minimum wage basis.  If this is done and you employ Panamanians, you can then use the funds for whatever business expenses you choose and are automatically entitled to permanent residency for you and your family.

The requirements for this type of visa are:

  • Five photos.
  • Notarized copy of passport.
  • Criminal record.
  • Health Certificate issued by a local doctor.
  • Payment of USD 800.00 for repatriation, through Certified Check.
  • Payment of USD 250.00 for application fees, by certified check.
  • Affidavit, according to the migration requirements.
  • Certificate of Public Registry, stating that the applicant is the sole or major shareholder of a Public Limited Company.
  • Accounting Certification, issued by a Panamanian accountant, that certifies that the shared capital has been paid and that it equals an amount equal to or greater than USD 160,000.
  • Certificate issued by the Colon Free Zone, which states that the Company has been registered in this area.
  • If the applicant applies with children and spouse, he must attach to the above requirements the certificates that prove the family relation, such as: Birth Certificates and Marriage Certificates, respectively. Additionally, you must attach to the amount of your investment USD 2,000 per each of the dependents that you want to include in your application.

All the above documents must be duly translated into Spanish and apostilled.

The procedure for this type of visa would be as follows:

  1. Register Public Limited Company (1-2 days)
  2. Register company in Colon Free Zone (1 - 3 days)
  3. Register passport in Migration and Obtain temporary ID (2 - 3 days)
  4. Obtain multiple entry visa (2-3 days)
  5. Residence approval process (3-6- months)
  6. Obtain residence card (1-2 days)
  7. Obtain residence card (45-60 days)

Contact us for an info pack

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Reforestation visa 

If you believe in green investment and ecofriendly investment, then you can invest 80,000 in an approved teak plantation. This allows you to collect the profit after the teak has grown plus enjoy the benefits of Panamanian permanent residency.

Many Canadians and Americans invest in this to fund the college education of their children. The teak investment takes around 25 years to bring gains however the gains are substantial since an investment of 80,000 can bring profits of over 1,000,000 over a period of twenty-five years with little risk.

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If you are a professional with the appropriate degrees that are considered to benefit Panama, then you will be entitled to apply for a professional visa, which grants permanent residence. Your degree has to be acknowledged and certified by a Panamanian University and it has to come under the current list of occupations. These include managers, computer and IT staff, food technologists and many others. The process is time consuming, however no money is required so in effect you can get permanent residency without investment.

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It is important to remember all the above are permanent residencies that permit the holder to have the legal right to obtain Panamanian citizenship for them and their family after only five years.

Other visas 

There are many other visas that may or may not lead to permanent residency. In fact, at the time of writing, we counted over 42 types of visas available in Panama so there is a visa almost for everyone, these include but are not limited to:

  • 1-Visa entitling you to accompany the birth of your child (Citizenship on birth and residency to parents when child turns).
  • 2-A multitude of work visas on short-and-long-term basis:
  • Agricultural investors visa.
  • Free zone regime visa.
  • Entertainment workers visa.
  • Religious visas and student visa.

    Please read our interview on Panamanian residency programs with our expert Illya Kun


    The Reforestation Residency Visa

    Panama enacted Law 24 to encourage private investment in efforts to restore the country's rapidly diminishing tropical forests. To reverse this trend, Law 24 offers significant tax advantages and residency visa eligibility to investors in government-approved reforestation projects. Individuals who present proof that they have invested in an approved reforestation project of at least 5 hectares (about 12.3 acres), including the purchase of the land itself, can apply for a Panamanian Reforestation Residency Visa

    This visa is particularly advantageous for those who want residency in Panama but who do not qualify for a retiree visa or friendly nations visa and want to avoid the lengthy and expensive process of obtaining a standard investor's visa. The latter can be very challenging for citizens of some nations and is much more expensive (USD +300k). The Reforestation Residency Visa offers you high value, high security and straightforward process for a lower cost. 

    Luckily, Mundo has a partner with a green program that meets all the qualifications of the visa. The total cost of your project includes all legal costs and government fees, visa for yourself as well as the fully managed forestry plot 100% titled in your name. For more about the project, please contact us.

    Five years after holding a permanent residency status, an individual may apply to become a naturalized citizen of Panama and receive a Panamanian passport. It is not necessary to live in Panama while your visa application is being processed, although periodic visits to Panama City immigration office are required.

    Panama places no age limits on the reforestation residency visa, other than requiring that the applicant be at least 18 years old. Dependents can also be covered in the program, including the applicant's spouse and any children under 18. Children between the ages of 18 and 25 who are unmarried students with no children of their own may also qualify as dependents of the applicant. For these dependents there are no extra requirements of additional investment; the only thing needed is to present the same personal documents and pay the incremental additional legal costs per dependent. 

    Our expert bilingual Panamanian immigration attorney will safely guide you through it all. 

    Important: To maintain your permanent residency, the only requirements are that you must visit Panama 1 day per each 18 months and maintain the investment as a reforestation project.

    Procedure and Timeline for Obtaining a Reforestation Residency Visa in Panama

    Mundo, along with its partners, has developed an innovative project that maximizes the yield and safety of your residency visa purchase and fully qualifies you for a permanent residency visa in Panama. 

    This complete package includes all legal costs and is designed for the immigration successes for citizens of China. We know that many of you have had limited access to attractive second residencies in the past and have therefore made this special offering for you.

    In addition, you can also become eligible for Panamanian citizenship under this program. 

    We know that many people worry that the residency visa processes can be a very paperwork intensive process. But don’t worry, our expert team will handle it all for you and guide you safely through. 

    To obtain a Reforestation Residency Visa, you must invest $138,000 in a reforestation project that has been approved and registered with Ministerio de Ambiente. 

    Then, before starting the application process, our Panamanian attorney will give you a list of documents that are required for your visa application. For full list of documents required please contact us. Your attorney will safely guide you through the whole process. You are in safe hands with us!

    You can then begin the process of applying for your residency visa. For this process, you must be represented by a Panamanian attorney. Our bilingual attorneys have extensive experience in guiding clients through the visa application process and will keep you continuously informed of the status of your application.

    The application process for a reforestation residency visa is as follows:

    1 - Check with the attorney if you require an Authorized Tourist Visa before you come to Panama. If so, the process must be completed before you visit Panama.

    2 - You must come to Panama to visit the immigration office accompanied by your attorney. If you are also requesting forestry visa for your dependents they must attend at the same time as well. This process requires that you stay in Panama for at least 10 working days. When the office has registered your application and examined your documentation, they will issue a provisional visa that is valid for 1 year.

    3 - You must come back to Panama before your one (1) year provisional visa expires. By this time, the immigration office should have your two (2) years temporary immigration visa approved. Otherwise, the immigration office will issue another provisional visa. This process will require your presence and the presence of your dependents for at least 10 working days.

    4 - Before the 2-year temporary immigrant visa expires, you must apply for a permanent immigration visa. This process will require your presence and the presence of your dependents for 10 working days.

    5 - If you wish to leave and return to Panama before you receive your temporary residency you will need to obtain a Multiple Entry and Exit Visa while you are still in Panama as well; this process takes about 2 working days. This visa allows you to enter and exit the country during the process as much as necessary.

    6 - If you leave without your Multiple Entry and Exit Visa, upon your return you will be subject to a penalty of $2,000.00 per person for first time offenders, and $5,000.00 per person the second time and on. Your multiple entry visa is only valid for 12 months.

    Important information

    Legal fees are included for one person in our investment package. An incremental additional legal cost applies per dependent, but the same project will qualify them so no extra investment is needed. 

    Try to avoid coming to Panama on official business during Panamanian holidays, as the government shuts down completely for the festivities.

    Trips to the immigration office can take many hours. Whenever you visit the immigration office, we recommend you take water bottles, snacks, books, and any other entertainment you may require.

    Timeline for Obtaining a Reforestation Residency Visa in Panama

    We have outlined the timeframe for you, for you to have a realistic overview of how long the process is going to take and when action is required from your side. 

    Basically, the steps are as follows:

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    Panama: new permanent residency by investment

      This recently released program is great for citizens from China, Venezuela, Russia, Colombia, and other countries as well, especially those that aren´t included in the friendly nations visa. The Panama national government announced the creation of a new residency program

        Now the permanent residency is available for everybody and can be acquired in as little as one month. This new program offers immediate permanent residency to those who invest 300,000 USD in real estate. 

          Acquiring permanent residency and a property at the same time paves the way to your Panama tax residency (because the property shows a clear connection to the country). With a properly established tax residency in Panama, all your dividends from stocks, bonds, real estate or any other income including pension or salary that are generated abroad are not taxed in Panama. This is, of course, under certain conditions. You need to reside in Panama for at least 6 months a year and prove you have personal and business ties to the country. In order to prove these ties, a property in the country is a great start. 

            On the other hand, I can assure you that living in Panama for 6 months a year is no sacrifice. On the contrary, you are going to want to live here all year long. If you have any doubts, I invite you to read this article, in which I share my own experience arriving in Panama, acquiring residency, and living here for many years. 

              According to the press release of the executive decreet number 722 of October 15th 2020, in order to apply to this new program, foreign investors must invest in real estate properties for a minimum of 300,000USD. This is the requirement for the first 24 months after the release of the decree, after which the minimum requirement investment will rise to 500,000USD.

                  The good news is that the properties that qualify for the program are not only ready and properly finished properties. A person can also apply to the program through any contract which states the commitment of buying or selling property or through the incorporation of a trust that will guarantee the purchase of a real estate property. 

                    Luckily, Mundo has for a long time now partnered with one of Panama´s best developers, meaning we can offer a great package of real estate + permanent residency.

                      Through our developer, you can acquire a ready to use property or you can obtain residency by a sale contract. This will also help you to create a property portfolio which we discuss in detail here, and you will obtain permanent residency. 

                        After you acquire your property or your property development project with our developers, then our lawyers will help you acquire your permanent residency. We have had a strong presence in Panama for a long time now and have very reputable partners and sponsors in Panama, who are highly experienced in all Panamanian financial services including foundations, corporations, free zones, all kinds of residencies, citizenship, financial license, tax residency and tax advice. 

                          Available projects

                            Mundo has many projects available in Panama, all you have to do is contact us to get information on the investment that is more suitable for you. 

                              One of our favorite projects is one that offers a unique combination between a relaxed beachfront lifestyle and the advantages of the city.

                                This project is located only 50 minutes away from Panama City, a world class capital and highly developed financial and banking center, and very close to Coronado, on the coast of the Pacific Ocean.

                                  This modern complex is made of two towers of 28 and 21 levels, respectively. Here you will find 1, 2, and 3-bedroom apartments ranging from 70 to 132 square meters.

                                    From your apartment you will have a fantastic view to the ocean and the mountains and great entertainment options. The project will also have a complete social area with restaurants, open and covered terraces, sun deck, bar, multipurpose sport grip for basketball, volleyball and tennis courts, gym, sauna, children´s playrooms, kids pool, infinity pool, and direct beach access.

                                      For more information about this project, please click here to read our Real Estate section

                                        Other investment options

                                          Real estate investment is not the only investment option available under this new program. Other available investments include the purchase of securities in Panama´s stock market for a minimum amount of 500,000USD and the establishment of bank fixed deposits for a minimum of $750,000. These securities should have a direct incidence in the national territory. 

                                            All investments must be held during a minimum period of five years so that the investor can get immediate permanent residency after the process has been completed. The period of acquiring residency after the investment has been made it´s surprisingly short. It is estimated that only 30 days after the investment has been made, the applicant will receive the permanent residency status. 

                                              One of the advantages of the coronavirus pandemic and lockdowns is that the remote possibilities have increased for many areas (tuition, legal processes, medical consultation, etc.), solving with remote procedures or online interviews what before required personal presence, travel expenses and took more time. The migration and finance areas are not the exception. 

                                                Another novelty that comes with this program is that for the first time it will be possible to apply from abroad. The investment can be made from a foreign country through a local lawyer and then travel to Panama only to finish the residency process. 

                                                  Once the applicant is in the country, he or she will have to continue with the process according to the laws and requirements of the National Migration Service of the Republic of Panama. Thus, the investor will rest assured that the process is going accordingly and in compliance with the migration laws of the country. 

                                                    The Permanent residency for qualified investors program requires the following:


                                                      For real estate investors:

                                                        Certificate from the Panama Public Registry that proves that the applicant owns the property.

                                                        Certificate from the National Authority of Land, which must state the value of the property.


                                                        Authenticated copy of the contract of sale duly registered in the Public Registry.

                                                        Original or authenticated copy of the trust contract, which should state that the total amount deposited into the trust will be used to pay in separate payments to the real estate company for the purchase of the property. 

                                                        For investments through the Panama stock market:

                                                        Minimum investment: 500,000 USD

                                                        Certificate form a brokerage house with a license approved by the Superintendencia de Mercado de Valores de Panamá which states: name of the investor, amount invested, details of the securities held by the investor, entity in custody of the titles. 

                                                        Certificate issued by the Superintendencia de Mercado de Valores de Panamá, in relation to the registry of the securities which correspond to the investment. 

                                                        For investment through a bank fixed deposit:

                                                        Minimum investment required: 750,000 USD (the deposit should be free of tax)

                                                        Copy authenticated by the bank of the fixed deposit certificate which states the name of the investor, the amount and the term. 

                                                        Certificate from the bank which states the name of the investor, the value, the term, and that the funds come from a foreign source. 

                                                        All types of investors applying for permanent residency for qualified investors, besides the above-mentioned documents, should present the following along with the application:

                                                        5,000-dollar fee to the National Treasury for the immigration process.

                                                        5,000 dollars to the National Migration Service for repatriation funds. 

                                                        1,000 dollars for each dependent (if any) to the to the National Treasury for the immigration process.

                                                        1,000 dollars for each dependent (if any) to the National Migration Service for repatriation funds.

                                                        Financial or banking documentation which proves that the funds used for the investment come from a foreign source, this can be:

                                                        Letter from a foreign bank that proves having sent the funds, this letter should be authenticated by a Panamanian consulate abroad or with an Haya apostille.

                                                        Letter from a local bank stating the receipt of the funds. 

                                                        Statement of account (from a foreign or local bank) that reflects the transaction of the funds. 

                                                        Notarized letter or bank certificate that confirms the deposit or receipt of the transfer, which certifies that the funds were received from a foreign account. 

                                                        *Any investment made for the purpose of acquiring permanent residency should be maintained for a minimum of five years. If this is not the case, then the residency status will be revoked. 

                                                        *The applicant must be the ultimate beneficial owner of the securities or property acquired. 

                                                        For more information about the permanent residency for qualified investors, please contact our experts and ask for a consultation. 

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                                                        Retirement in Paradise: The Panama pensionado visa

                                                        Like we have discussed through this country page, Panama´s economic model is based on Singapore´s. Both countries have shown an enormous economic growth in a relatively short period (30 years approximately). Panama in particular has gone from a third world country to a major business international hub in only 20 years. 

                                                        But how does a country achieve such an immense growth in such a short time? One of the reasons are the immigration incentives that Panama has promoted throughout this period. This is clearly reflected on the residency programs presented on this section of our country page. The government’s move was smart when it created the several visa programs that we have already discussed above. Now we will dive into one of the best among Panama´s programs: the pensionado visa. 

                                                        The program offers residency to people who can prove having a passive income, regardless of their age. The main purpose of the visa is aimed towards retirees hence its name, however, people of all ages can apply. The most important requirement is having a lifetime pension or passive income of at least 1,000 USD. The income may come either from a governmental or private entity. However, this visa does not allow for a job permit, which is why for younger people we recommend other visas such as the Qualified Investor Visa, the Friendly Nations Visa or the Reforestation Visa, of which you can read more information above. 

                                                        The requirements and documents for this visa have been mentioned on this page, but we will describe them again in more detail: 

                                                        Step 1 - Filiation:


                                                          (If the applicant has dependents, the same documents must be submitted for each of them, including the fees and costs) 

                                                          Legal fees: $250.00

                                                          Cost: $5.00

                                                          Duration of the process: 1 day

                                                          Step 2 - Presentation of application:


                                                            Exceptions to the rule

                                                            1. The certification that demonstrates the status of retired or pensioner may be of seven hundred fifty balboas (B /. 750.00) in the following cases:


                                                                Legal fees: $ 2,500.00 ($ 1,500.00 additional for each dependent).


                                                                  Processing duration: approximately 2 and a half months.

                                                                  Step 3 - Multiple Visa (applies to all types of visas):

                                                                  While the application is being reviewed, the applicant will not be able to leave the country otherwise he will have to pay a fine that can amount to 2,000 USD. For this reason, we recommend getting a Multiple Visa, thanks to which the applicant can freely travel to and from Panama without facing any fines. 


                                                                    Legal Fees: $ 250.00

                                                                    Expenses: $ 50.00

                                                                    Processing duration: 48 hours.

                                                                    Step 4 - Immigration Note to obtain the ID Card:

                                                                    The immigration note is given to the lawyer upon approval of the residency application. This document is issued two weeks after the applicant has acquired the permanent residency card. With this note, the applicant and the lawyer can request the Panamanian ID card for foreigners at the Tribunal Electoral de Panama. 

                                                                    Legal Fees: $ 250.00

                                                                    Expenses: $ 26.00

                                                                    Processing duration: 2 weeks after filing the Immigration Note.

                                                                    Ask for more information

                                                                    The advantages of the Pensionado visa for retirees

                                                                    Although the visa has no minimum age requirement, it offers special benefits for pensioners:

                                                                    Acquire real estate: 

                                                                    If the applicant buys real state in Panama, then he or she can apply for the Pensionado Visa with an income of 750USD a month (instead of 1,000USD). This represents a fantastic opportunity because it offers the chance to invest in a booming real estate market. Panama´s real estate sector is predicted to grow in 2021. We also offer excellent developments that have special programs for retires such as Generation Tower

                                                                    Generation tower offers all kinds of amenities: infinity pool, bar and restaurant, yoga center, great views to the city, athletic club and others. It is located in one of the best neighborhoods in Panama with quick access to the city center and the Tocumen International Airport through the Corredor Sur. 

                                                                    The project offers a special program for pensioners called “Independent Senior Living” which includes: 

                                                                      For more information on real estate opportunities and developments, please visit our real estate section.

                                                                      Impressive discounts:

                                                                      Retirees in Panama enjoy the benefits of a variety of discounts: 

                                                                        Lower cost of living:

                                                                        The golden agers in Panama can have access to a better life quality, simply because their money has more value here. With a 2,000 pension in the Unites State or in Western Europe, there is not much you can do. In Panama, on the contrary, with this amount of money and even less you can have an excellent life quality because the country has a lower cost of living. It will be easier for retirees to afford going to restaurants, medicine, travel and entertainment like theaters or cinemas. 

                                                                        Excellent life quality:

                                                                        About Panama City´s lifestyle, there is not much to say besides what we have described throughout this country page. Most of the people speak English because of Panama´s historic ties to the United States. There are amazing Caribbean beaches only one hour drive away and beautiful mountain landscapes where you can find a cooler weather (Boquete, for example). In the rest of the country, the weather is warm all year long, but you can use air conditioners. Electricity becomes affordable thanks to the retirees’ discounts. 

                                                                        The city offers a variety of entertainment options from culture events to outdoor activities. There are many places to jog and exercise such as Parque Omar and Cinta Costera, and beautiful historical places such as Panama Viejo or Casco Antiguo. In Panama Viejo you will find the ruins of the first conquerors´ settlements and Casco Antiguo is the old colonial town where you can enjoy the exquisite architecture of those times.

                                                                        If you are thinking about the best place for retirement, then Panama is an option you must consider. Luckily, Mundo has partnered with experts on residency in Panama and they can help you acquire your pensionado visa. Contact our experts and apply now.

                                                                        Contact our experts

                                                                        Minimum investment: 500,000USD (300,000 USD for the first 24 months). 

                                                                        4 passport-sized photos.

                                                                        Copy of the passport including the last entry stamp to the Republic of Panama.

                                                                        A copy of the POA (Power of Attorney).

                                                                        Pre-registration form (filled in online.)

                                                                        Three passport-sized photographs (also for each dependent).

                                                                        Complete notarized copy of the passport. (also for each dependent).

                                                                        Certificate of criminal records of the country of origin, with apostille. (also for each dependent of legal age).

                                                                        Health certificate issued in Panama by a qualified doctor (also for each dependent).

                                                                        Fill in sworn declaration form of personal background (also for each dependent of legal age).

                                                                        Certification of your status as a retiree or pensioner by a foreign government,

                                                                        international organizations or private companies, in which it is proven that you receive a lifetime pension of not less than one thousand balboas (B /. 1,000.00) per month or its equivalent in foreign currency.

                                                                        If the retirement or pension comes from a private company, the following must be provided in addition to the above:

                                                                        Letter from a foreign pension administration, trust, mutual fund, insurance or banking company, certifying that it administers funds for the company or the applicant.

                                                                        Certification of existence and validity of the company, which grants the pension and administers the fund.

                                                                        Copy of proof of payment or bank statement.

                                                                        The applicant has acquired property in a personal capacity in the national territory for a sum greater than one hundred thousand balboas (B/.100,000.00).

                                                                        In the cases of spouses, you may choose to credit the sums of both

                                                                        To meet the minimum of the established pension which is one thousand balboas (B/.1,000.00).

                                                                        In the cases of dependent children, your permission will be temporary until they turn twenty-five (25) years old as long as they prove that they are completing their studies, however they will not have the right to stay or to be a pensioner. With the exception of those dependent children who suffer a proven profound disability.

                                                                        Notary (Power of Attorney): $5.00 (Additional power for each dependent of legal age)

                                                                        Notary (Passport collation) $ 20.00 (For each individual)

                                                                        Provisional Card: $50.00 (For each individual)

                                                                        Definitive Card: $100.00 (For each individual)

                                                                        Other: $150.00

                                                                        Original and photocopy of the passport (general, registration stamp)

                                                                        Original and copy of the migration card

                                                                        2 passport-size photos

                                                                        Health insurance.

                                                                        Medical monitoring using smart watches.

                                                                        Flexible meal programs and a Visa card with discount for food in restaurants of the area.

                                                                        Travel discount with Copa Airlines so that senior residents can be visited by their family and friends. 

                                                                        Entertainment (theaters, cinema, sport events) - 50%

                                                                        Public transportation - from 25% to 30%

                                                                        Hotels - from 30% to 50%

                                                                        Restaurants (it does not include the fondas) - 25%

                                                                        Fast food - 15%

                                                                        Hospital and private health institutions -15%

                                                                        Pharmacies (Medicine) -20%

                                                                        Medical services consultation -20%

                                                                        Medical services (dentist services) - 15%

                                                                        Services (electricity, phone, and water) - 25%

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